Party chief hosts RoK President in Hanoi

Trong expressed his satisfaction at the fruitful development of the Vietnam – RoK relations over the past three decades and believed that the strategic comprehensive partnership between the two countries would be further enhanced in the future.

He welcomed the results of the high-level talks in Hanoi on June 23 between the two countries’ presidents, and proposed the two sides continue to regularly maintain high-level visit exchanges to increase mutual trust and understanding.

He briefed his guest on Vietnam’s recent development achievements and affirmed that Vietnam would continue to accelerate its Doi Moi (Renewal) process and become a reliable partner for all countries in the world, including lcose friends like the RoK.

President Yoon for his part affirmed that both the RoK and Vietnam have treasured a good relationship over the past 30 years and that Vietnam is the RoK’s important partner in Asia.

He said his visit would be the new beginning for the next 30 years of the RoK -Vietnam relationship. He assured that the RoK would continue to prioritize training for Vietnamese students and create conditions for Vietnamese students to study at Korean high-tech schools.

Yoon suggested that the two sides strengthen people-to-people exchanges, and step up cooperation in the fields of education - training, and science – technology, so as to turn bilateral relationship into an exemplary role model in international relations.

Both host and guest also exchanged views on regional and international issues of mutual concern.

The same day, President Yoon also met with National Assembly Chairman Vuong Dinh Hue who suggested both countries further enhance trade facilitation and continue promoting bilateral trade toward balance and sustainability.

Hue urged Korean enterprises to boost connection and assist Vietnamese firms in joining more deeply in their supply chains. He also called on the RoK to expand the scale of providing official development assistance for Vietnam and encourage big corporations to open innovation and R&D centres in Vietnam.

The top legislator asked the RoK to support and share a common vision in ensuring security, safety and freedom of navigation and overflight in the East Sea, and affirmed that Vietnam always pays attention to and stays ready to actively contribute to the process of denuclearisation on the Korean Peninsula.

The visiting RoK president also met with Prime Minister Pham Minh CHinh who expressed Vietnam’s desire to further advance the new framework of the bilateral relations between the two countries with a broader and higher vision and goal.

Chinh proposed that both countries effectively implement the Vietnam-RoK Free Trade Agreement (VKFTA) and the Regional Comprehensive Economic Partnership (RCEP), thereby achieving the goal of raising their bilateral trade turnover to US$100 billion in the near future and US$150 billion by 2030 in a balanced and sustainable manner.

He also suggested that the RoK open its market further for Vietnam's key products such as agro-fishery goods and seasonal fruits, help Vietnamese enterprises join more deeply in the global supply chains of Korean businesses, and encourage Korean companies to expand their investment scale in Vietnam, particularly in priority areas such as infrastructure development, high-tech electronic manufacturing, semiconductors, renewable energy, and smart cities.

Chinh welcomed Korean businesses to invest in key national projects and BOT (Build-Operate-Transfer) projects involving the building of thermal power plants and liquefied natural gas (LNG) facilities in Vietnam.\

He proposed the RoK transfer technology for Vietnam, create more favourable conditions for Vietnamese enterprises to invest in the RoK, and consider Vietnam a strategic destination for establishing Korean research and development (R&D) centres.

He vowed to address difficulties and obstacles facing Korean investors in Vietnam, and suggested expanding exchanges between the Vietnamese and Korean youth and strengthening the bilateral people-to-people and locality-to-locality collaboration.

President Yoon for his part stated that the RoK Government will continue to encourage and facilitate local enterprises to invest in Vietnam. He proposed increasing join works in the defence industry.

He hoped the Vietnamese Government will continue supporting and resolving difficulties for Korean investors, particularly concerning the sectors of finance-banking, infrastructure, and smart city building. Yoon also looked for Vietnam’s further assistance for RoK citizens as well as for the expansion of Korean educational institutions in Vietnam